The retrieval of JPEX's client assets is believed to be a difficult task.
The Hong Kong police have apprehended six individuals in connection with the cryptocurrency trading platform JPEX, which shuttered its operations this week.
Subsequently, Hong Kong’s Commercial Crime Bureau conducted a raid at Lam’s office located in the Central Entertainment Building, following which plain-clothes officers escorted him out of the building and into an unmarked police vehicle. Thealso suggested that the law enforcement officers confiscated containers filled with evidentiary materials, among them a plastic bag containing banknotes, from his office.
The officers also conducted a search at the office of an over-the-counter virtual asset money changer located in Tsim Sha Tsui East. The case is currently under investigation, with the possibility of further arrests, as stated by the police.The Securities and Futures Commission asserted that JPEX had relied on deceptive statements made by key opinion leaders , who are often paid promoters.
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